Zacks Investment Research downgraded shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “
Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Aspen Aerogels from a sell rating to a strong sell rating in a research note on Friday, July 28th. Citigroup Inc. increased their price objective on shares of Aspen Aerogels from $4.50 to $4.75 and gave the company a neutral rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Aspen Aerogels presently has a consensus rating of Hold and an average target price of $6.38.
Shares of Aspen Aerogels (NYSE ASPN) opened at 4.16 on Tuesday. The company’s market cap is $85.62 million. The firm has a 50 day moving average price of $4.50 and a 200-day moving average price of $4.29. Aspen Aerogels has a 52-week low of $3.61 and a 52-week high of $6.71.
Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Thursday, August 3rd. The construction company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.01. The business had revenue of $25.10 million for the quarter, compared to the consensus estimate of $24.79 million. Aspen Aerogels had a negative net margin of 22.22% and a negative return on equity of 20.95%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Equities research analysts anticipate that Aspen Aerogels will post ($0.86) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Spark Investment Management LLC boosted its stake in Aspen Aerogels by 186.0% in the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock worth $126,000 after buying an additional 19,900 shares during the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in Aspen Aerogels by 27.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 71,412 shares of the construction company’s stock worth $296,000 after buying an additional 15,315 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Aspen Aerogels during the second quarter worth approximately $330,000. Renaissance Technologies LLC boosted its stake in Aspen Aerogels by 12.5% in the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock worth $1,089,000 after buying an additional 29,200 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Aspen Aerogels by 39.6% in the first quarter. Royce & Associates LP now owns 413,924 shares of the construction company’s stock worth $1,718,000 after buying an additional 117,397 shares during the last quarter. 75.25% of the stock is owned by institutional investors.
About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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